Aston Martin Red Bull Racing have lost Aussie Daniel Riccardo, but have gained a cryptocurrency, FuturoCoin. The partnership between the F1 team and the crypto is a first for the sport.
“In recent years, the rise of blockchain technology and cryptocurrencies has been truly remarkable, and we’re delighted to be the first Formula One team to embrace this, through our partnership with FuturoCoin. Secure digital currencies are on the leading edge of technological development and we are very excited to be part of this revolution.Aston Martin Red Bull Racing Team Principal, Christian Horner.
The partnership is said to be a multi-year agreement will see FuturoCoin branding set to feature on the Aston Martin Red Bull Racing RB15, team transporters and drivers’ overalls.
The team has recently announced their 2019 livery reveal will take place on the 13th of February, which is likely to be a valentines day present for Aussie Red Bull fans.
“Cryptocurrencies and Formula One are very similar and their values are much alike; speed, technology and being ahead of their time. I’m a huge fan of motorsport and F1 has always intrigued me. The sponsorship is an exciting new chapter for our company and will be a global platform for us to drive awareness of FuturoCoin.”Roman Ziemian, co-founder of FuturoCoin
For those wondering how FuturoCoin compares to the thousands of other cryptocurrencies, the answer is they’re tiny, ranking #1797 on Coinmarketcap. It’s a crypto that can be mined and is traded on 11 exchanges with the code FTO. There’s a maximum of 100 million FTOs, with the current value of US$360,901, or just over 100 Bitcoin.
Here’s the full stats from CoinMarketCap, given these values, sponsoring an F1 team seems like a massive stretch. Only time will tell if this PR boost by being on the Red Bull F1 cars will skyrocket their coin in popularity.
|Yesterday’s Open / Close
|$4.88 USD / $4.88 USD
|Yesterday’s High / Low
|$5.13 USD / $4.86 USD
|+0.003011 USD (+0.06%)
“We are very proud that FuturoCoin will be the first cryptocurrency in the world to appear on a Formula One car. In addition, we are looking forward to working alongside Aston Martin Red Bull Racing, a prestigious brand that is recognised across the world.”Paulina Woźniak, CEO of FuturoCoin’s management company
So it turns out, Red Bull Racing may not be the first team to have a crypto sponsor, check out this recent post from Romain Grosjean, his 2019 helmet features another cryptocoin, Soccercoin.